CAPITAL STOCK |
9 Months Ended |
|---|---|
Sep. 30, 2016 | |
| Notes to Financial Statements | |
| Note 13. CAPITAL STOCK |
Preferred Stock
The Company authorized 50 million shares of preferred stock with $0.001 par value. The Company designated 100 shares of preferred stock as Series A Preferred Stock, of which there were 100 shares of Series A Preferred Stock outstanding as of September 30, 2016. Series A Preferred Stock is convertible on a one-for-one basis into common stock and has all of the voting rights of the Companys common stock.
The Company designated 49,990,900 shares of preferred stock as Series B Preferred Stock, of which there were 40,382,962 shares of Series B Preferred Stock outstanding as of September 30, 2016. Each share of Series B Preferred Stock: (i) is entitled to 100 votes for each share of common stock into which a shares of Series B Preferred Stock is convertible and (ii) is convertible, at the option of the holder, on a 1-for-5.384325537 basis, into shares of the Companys common stock.
Common Stock
The Company authorized 990 million shares of common stock, $0.001 par value per share. As of September 30, 2016, 473,917,277 shares of common stock were issued and outstanding. |
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- References No definition available.
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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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